Victory Capital Management Inc. Cuts Stake in CBIZ, Inc. (NYSE:CBZ)

Victory Capital Management Inc. reduced its position in shares of CBIZ, Inc. (NYSE:CBZ) by 28.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 585,887 shares of the business services provider’s stock after selling 230,242 shares during the period. Victory Capital Management Inc.’s holdings in CBIZ were worth $36,671,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Fortis Group Advisors LLC acquired a new stake in shares of CBIZ during the 3rd quarter worth about $45,000. Exchange Traded Concepts LLC acquired a new stake in shares of CBIZ during the 4th quarter worth about $172,000. Compass Ion Advisors LLC acquired a new stake in shares of CBIZ during the 3rd quarter worth about $202,000. O Shaughnessy Asset Management LLC boosted its stake in shares of CBIZ by 6.2% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 4,381 shares of the business services provider’s stock worth $227,000 after purchasing an additional 257 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in shares of CBIZ in the fourth quarter worth approximately $233,000. 87.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of CBIZ from a “hold” rating to a “sell” rating in a research report on Friday, April 26th.

CBIZ Trading Up 2.1 %

NYSE CBZ opened at $74.61 on Tuesday. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of 30.21 and a beta of 0.87. The company’s 50 day moving average price is $75.59 and its 200 day moving average price is $66.16. CBIZ, Inc. has a one year low of $49.13 and a one year high of $79.55. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 1.54.

CBIZ (NYSE:CBZ) last posted its quarterly earnings data on Thursday, April 25th. The business services provider reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.03). The firm had revenue of $494.30 million for the quarter, compared to analysts’ expectations of $490.88 million. CBIZ had a net margin of 7.65% and a return on equity of 15.43%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.46 EPS. On average, sell-side analysts predict that CBIZ, Inc. will post 2.74 EPS for the current year.

CBIZ Profile

CBIZ, Inc provides financial, insurance, and advisory services in the United States and Canada. It operates through Financial Services, Benefits and Insurance Services, and National Practices segments. The Financial Services segment offers accounting and tax, financial advisory, valuation, risk and advisory, and government healthcare consulting services.